Maritime VSAT revenues are set to grow by more than 13.7% to 2021 according to a new report. Technavio’s analysts forecast the global market will grow at a compounded annual growth rate of 13.74% during that period.
They highlighted that VSAT market growth was driven by multiple industry trends including an increasing need for VSAT on fishing vessels and ships involved in maritime surveillance.
Technavio also identified improving maritime domain awareness, anti-piracy and commodity tracking as key drivers for installing more maritime VSAT services. Crew welfare requirements and ship monitoring are also drivers…
What is Maritime and VSAT? Here’s all you need to know.